People walk past the U.S. Federal Reserve building in Washington D.C., the United States, May 21, 2020.
Ting Shen | Xinhua via Getty Images
Historically unique financial conditions brought on by the coronavirus have changed the way the Federal Reserve is stress-testing banks this year.
In addition to the usual rigors that measure how well institutions are prepared for sharp downturns, the Fed is adding three new scenarios this year, Vice Chair for supervision Randal Quarles announced Friday. The scenarios examine different patterns of recovery and look to see how banks will respond.
The initial testing focus was for stress in corporate debt and real estate and an unemployment rate higher…